Remodeling your kitchen can be a big deal. There are a lot of things that you will need to consider, such as what color you would like to paint the walls, if you need new cabinets, what color and style of granite countertops to add in, and if you want to change up the flooring. One of the biggest things that will determine what you do to your kitchen is the budget. If you are trying to plan a remodel of your kitchen, here are some steps that you should take to ensure that you are getting the perfect kitchen while still remaining within your budget.
Pick a Budget
One of the worst things that you can do when you are starting your kitchen remodel is to not set up a budget. When you have a price point that you want to stick with, you are less likely to go crazy. Leaving the dollar amount open at the beginning will make it seem like you have endless money to spend and the costs will soon become outrageous. Pick a price that you are comfortable with spending and do not veer from that at all.
Know the Cost
It is a good idea to know about how much you will be spending on the various parts of the project. For example, you can write out that you are willing to spend 35% of the budget on cabinets and up to 20% on new appliances. Keep these numbers in mind when you begin to look at things for the remodel.
Include the Unexpected
There are things that are going to happen during your renovation that you will not expect. You may find that the electrical wiring needs to be replaced or the flooring is a lot worse than you first thought. Instead of having to go over budget in order to get these things fixed, you should set aside a little bit of the money within your budget to fix them. If you end up not using all of that money, it is just something extra that you can use for later.
Prioritize
Before you start out, you should list which things are the most important to get done during the renovation. Perhaps you are really interested in getting new appliances for the kitchen and would like to get new cabinets if you have the money, but it is not that important. Go through everything that you would like to have done during the remodel and decide which ones need to be done and which ones would be nice to have done if the budget and time constraints allow.
Living and Eating Arrangements – Do they need to be made?
One thing that many people forget about when they start a new remodeling project is the costs for living out of the home and having to come up with meals since they cannot use the kitchen. If you are going to be living somewhere else during the remodeling process, this can quickly become expensive. Eating out can be just as hard on your wallet if you do not plan it into the budget. You might be lucky and be able to stay with a friend or family member and use their kitchen for meals. On the other hand, you may be on your own and it is better to plan for it ahead of time rather than having to come up with the extra money on your own.
Track Your Purchases
Just because you have set out a budget in the beginning of the project does not necessarily mean that you are sticking to it. Write out the budget that you would like to stick to and then make sure to check it often during the project. Make sure to keep track of all the spending that you are doing throughout the project and any extras that are coming up. Doing this allows you to catch any overspending that might be occurring so that you have a chance to stop it before it gets out of hand.
Avoid Extras
It is easy to become tempted to add in some extras as the project goes along. This is a really bad idea if you are interested in staying within the budget you set at the beginning of the project. Extras are not really needed and can always be added in later on down the road when you have more money and decide that you really do want them. The one extra you should consider is granite countertops. While they can take up a large portion of your budget, it may be less than you realize, and you can receive a large return on your investment if you ever intend to sell your home. These are just a few tips that will help you set a budget and stick to it.